Bill DeSio pulled off a neat trick during the crash: Even as his portfolio sank, he shrugged off his anxiety and scooped up blue-chip stocks on the cheap, making a killing. Today, more than a year later, the insurance executive from Springfield, Pa., is ready to change direction. Anxious about the stock market’s recent dips, the 63-year-old DeSio wants to lock in his gains. “I’ve been working all my life, and I don’t want to lose everything,” he says. But he’s not simply fleeing into savings accounts or CDs. Among his more intriguing buys are investments that generate a substantial stream of cash, including hybrid “convertible” bond funds that offer high dividends. His new mission: Get a significant income out of his portfolio, no matter what stocks do. (more)
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